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Greek Debt

Let Greece Leave the Eurozone

Ivan Eland | Posted 06.30.2015 | World
Ivan Eland

Greece has long been irresponsible financially -- originally having excessive pensions, early retirement ages, an over-regulated and corrupt economy, 20 percent of the workforce in the employ of a bloated government, and uneven tax collection.

EU Tells Greeks 'Door Still Open' To Deal, Makes Offer Public

Reuters | Posted 06.28.2015 | World

By Alastair Macdonald BRUSSELS, June 28 (Reuters) - EU chief executive Jean-Claude Juncker launched a last-ditch drive on Sunday to pe...

Greek Offer In Bailout Talks Stirs Angry Backlash At Home

Reuters | Posted 06.23.2015 | World

By George Georgiopoulos and Michele Kambas ATHENS, June 23 (Reuters) - Greece's leftwing government expressed confidence on Tuesday that parliament...

The Victimization of the Greek People Must Stop

Nicos E. Devletoglou | Posted 06.17.2015 | World
Nicos E. Devletoglou

Isn't it, too, almost an indecent albeit dangerous spectacle of the European Union, a superpower, to go on threatening, when not cajoling, the government of a small member-state on its strategic southern periphery?

Greek PM Tsipras Insists On Debt Relief As Negotiations Resume

Reuters | Posted 06.13.2015 | World

ATHENS/BRUSSELS, June 13 (Reuters) - Greek Prime Minister Alexis Tsipras said he was willing to accept unpalatable compromises to secure a deal with i...

The Greek Crisis Needs Mediation Now, Not More Confrontation

Nicos E. Devletoglou | Posted 05.26.2015 | World
Nicos E. Devletoglou

Greece needs an honest break to get ahead: by completing ex post all known far-reaching structural reforms required to help transform its economy -- languishing in disarray for too long -- into an engine of progress.

The Greek Default Will Be Soon... Drachma Here We Come

Richard Finger | Posted 06.26.2015 | World
Richard Finger

Greece will reintroduce the Drachma, which, I predict, will initially devalue at least 30 or 40 percent versus the Euro. Unfortunately, Greece imports are nearly twice their exports ($60 billion to $33 billion).

Greece Accuses Spain, Portugal Of Conspiring To Topple Anti-Austerity Government

Reuters | Posted 04.30.2015 | World

* Spain, Portugal leading "axis of powers" against Athens-PM * Portuguese leader denies taking hard line on Greece * Ger...

IOU 240 Euros, It's My Problem; IOU 240 Billion Euros, It's Your Problem!

Terry Connelly | Posted 04.19.2015 | Business
Terry Connelly

The first thing to know is that nobody should sell or buy a lot of US stocks or bonds because of the unfolding late-inning melodrama between the new g...

Greek Debt Talks Break Down

Reuters | Posted 02.16.2015 | World

By Renee Maltezou and Jan Strupczewski BRUSSELS, Feb 16 (Reuters) - Talks between Greece and euro zone finance ministers over the country's debt br...

Greece Braces For Talks With Germany Amid Market Relief

AP | DEREK GATOPOULOS and COLLEEN BARRY | Posted 02.03.2015 | World

ATHENS, Greece (AP) — Greece's new anti-bailout government confirmed it will hold meetings with lead lender — and critic — Germany this week aft...

The Greek Elections and European Absurdity

Kostas Vergopoulos | Posted 04.04.2015 | World
Kostas Vergopoulos

If there is one thing that has poisoned the European economy after the 2008 crisis, it is the German idea that a purge comes before a recovery.

Merkel Rules Out Another Greek Debt Cut

AP | Posted 01.31.2015 | World

BERLIN (AP) — German Chancellor Angela Merkel has underlined the refusal of Greece's European creditors to consider forgiving part of the debt-ridde...

A Break in the Greek Tragedy

Robert Kuttner | Posted 03.27.2015 | Politics
Robert Kuttner

Europe should count itself lucky that a leftwing anti-austerity party won the Greek elections, swept into office by citizens who've had enough. Elsewhere in Europe, seven years of stupid, punitive, and self-defeating austerity policies have led to gains by the far right. If a radical left party is now in power in Athens and sending tremors through Europe's financial markets, the EU's smug leaders and their banker allies in Frankfurt, Brussels and Berlin have only themselves to blame. Alexis Tsipras, leader of the winning Syriza coalition, says he doesn't want Greece to leave the Euro. He just wants Europe's leaders to renegotiate Greece's debt. It's about time. This crisis could have ended years ago with far less suffering for ordinary people who had no responsibilities for the offending policies. Greece, after all, has about two percent of the EU's total economic product -- and it has about 25 percent less than it had before the crisis. Writing off Greece's debt outright would have cost peanuts, and still would.

The Sovereign Debt of Greece Remains a Contentious Issue

Nicos E. Devletoglou | Posted 03.14.2015 | World
Nicos E. Devletoglou

The multiple admonishments between Athens and its increasingly hardline partners in Europe in recent days are out of place -- even as part of a high-stakes game testing contrasting approaches to dealing with Greece's bulging debt.

Les Miserables of Greece

Justine Frangouli-Argyris | Posted 04.22.2013 | World
Justine Frangouli-Argyris

Yesterday's prosperous citizens require international humanitarian assistance and a strong support from the Greek-American community at large. The Greek government and its European allies cannot pretend that nothing is amiss anymore.

The Greek Lesson

Evaggelos Vallianatos | Posted 02.11.2013 | World
Evaggelos Vallianatos

Recreating feudalism is not an option, especially in Europe and America. The Greeks would fight to the death defending their country. In addition, neither civilized societies nor the Earth can afford the policies the troika is pushing in Greece.

Debt Forgiveness Is Inevitable and Will Save the Euro

Elena Panaritis | Posted 02.05.2013 | World
Elena Panaritis

Austerity has made it difficult for Greece to meet its fiscal targets, as well as its structural reforms. This is why anything short of debt forgiveness and more bailout funds is only a way for Europe to buy a little bit of time but at a huge price.

Euro Zone Reaches Greek Debt Deal

Reuters | Posted 01.26.2013 | Business

* EU-IMF agree on cutting Greek debt-to-GDP level * Aim is to reduce Greek debt to 124 percent of GDP by 2020 * Interest...

Eurozone Insists Greece Accept Six-Day Workweek

Posted 09.04.2012 | Business

Greece’s debt crisis could take a toll on its weekends. In exchange for a second bailout, Greece’s creditors are demanding that the country’...

French President: 'There's No Time To Lose'

Reuters | Posted 10.25.2012 | Business

* Samaras says Greece determined to stay in euro * Hollande says Greece must show commitment to reform * German finmin r...

Greece Sells Islands, Highways, Planes In Fire Sale To Pay Down Debt

The Huffington Post | James Sunshine | Posted 06.21.2012 | Business

When governments announce that the sale of assets, they usually mean industries and companies owned and operated by the state. Greece has something sl...

The Day That Greece Rescued Europe

Montserrat Domínguez | Posted 08.19.2012 | World
Montserrat Domínguez

The Greeks have deactivated the switch that threatened to blow Europe sky high. Antonis Samaras's New Democracy party victory in Greece does not in and of itself solve Athens' problems, nor those plaguing the rest of Europe's capitals. The boxer is still on the ropes, but the bell has been rung, ending the round; and that gives Europe time to recover, though it will have to keep fighting. In addition this week, if seen as part and parcel to what happened in Greece, the result of France's legislative elections and the majority that President Hollande now boasts both act as a serious warning to Angela Merkel in Germany. The message is clear: we are willing to go forward, but the pernicious austerity strategy that is pushing us into the abyss must be reconsidered.

Greek Respite Leaves Euro Problems Unchanged

Theresa Bradley | Posted 06.19.2012 | World
Theresa Bradley

For European leaders, the central challenge is bigger, and has been mounting for years: How to stabilize a single monetary union that allows for 17 different fiscal policies

Three Big Questions for the Greek Elections

Mohamed A. El-Erian | Posted 08.16.2012 | Business
Mohamed A. El-Erian

Whichever way you look at it, Sunday's election in Greece entails major uncertainties. What is clear is that, by itself, the outcome is very unlikely to immediately end turmoil and uncertainty. Indeed, even a simplified analysis entails many permutations and combinations.